Benchmark indices opened the day flat in trade with Asian cues quiet. The Sensex was trading higher by 16 points, while the Nifty was higher by 4 points in trade.
Jindal Steel and Power was trading higher after falling as much as 7 per cent on Monday. The stock was trading higher by 2 per cent.
Stocks from the financials space continued to drift lower. HDFC, ICICI Bank and IDFC were among the losers. Among the PSU banking stocks that lost ground were Punjab National Bank and Bank of Baroda.
Brigade Enterprises was trading higher after the company launched a few projects in Bangalore. Hindalco which had gained ground following winning of a coal block on Monday was marginally lower after the rally seen on Monday.
Mid cap stocks saw some rally in trade with Jubilant Foodworks and Bharat Forge among the gainers.
Meanwhile, markets across Asia were trading with marginal losses after weak closings in the US. The Hong Kong's Hang Sang and Shanghai Composite were trading with losses.
US markets had ended the day weak, while European markets saw sharp losses led by the German DAX in trade on Monday.